North Carolina Second Mortgage
Business briefs: USAA bank earns top customer rating
San Antonio-based USAA Federal Savings Bank achieved the top customer satisfaction ranking in the 2006 J.D. Power and Associates study of mortgage service providers.
USAA Federal achieved a satisfaction index score of 897 on a 1,000-point scale, 36 points better than the second-place finisher, BB&T Corp. of North Carolina, and 87 points better than the industry average.
The study measures customer attitudes in four areas — account administration, billing, payments and the process of contacting the mortgage company. The 2006 Primary Mortgage Servicer Study received comments from 12,799 homeowners.
St. Mary's lauded for business school
The Bill Greehey School of Business at St. Mary's University has been rated an outstanding business school by The Princeton Review and will be listed among the best in the nation this fall.
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Wachovia's Net Rises on Acquisitions, Investment Bank (Update1)
July 20 (Bloomberg) -- Wachovia Corp., the bank that's buying California mortgage lender Golden West Financial Corp. for $26 billion, said second-quarter earnings rose 14 percent as earlier acquisitions helped buoy profit margins on loans and investment-banking fees surged.
Net income climbed to $1.89 billion, or $1.17 a share, from $1.65 billion, or $1.04, a year earlier, the Charlotte, North Carolina-based bank said today in a statement. Revenue rose 14 percent to $7.26 billion.
Chief Executive Officer Kennedy Thompson used the purchases of Westcorp and AmNet Mortgage Inc. to expand into auto financing and mortgages for riskier borrowers, both of which pay higher interest rates than more traditional loans. Trading and investment banking picked up from the same period last year, even as stock markets sputtered in May and June.